diff --git a/erpnext/accounts/party.py b/erpnext/accounts/party.py
index 18e3a6c97ef0574717ff956e6ce8be440a58db0c..5e5fb948c9611e8bbbeb4e63fd7921ab04ed362f 100644
--- a/erpnext/accounts/party.py
+++ b/erpnext/accounts/party.py
@@ -199,7 +199,9 @@ def set_address_details(
 	*,
 	ignore_permissions=False,
 ):
-	billing_address_field = "customer_address" if party_type == "Lead" else party_type.lower() + "_address"
+	billing_address_field = (
+		"customer_address" if party_type in ["Lead", "Prospect"] else party_type.lower() + "_address"
+	)
 	party_details[billing_address_field] = party_address or get_default_address(party_type, party.name)
 	if doctype:
 		party_details.update(
diff --git a/erpnext/selling/doctype/quotation/quotation.js b/erpnext/selling/doctype/quotation/quotation.js
index 2325002f98dfc5e97c28ed8432f0aff4934bdb51..1552ba747947e67db0ab0f655b36c80a257db507 100644
--- a/erpnext/selling/doctype/quotation/quotation.js
+++ b/erpnext/selling/doctype/quotation/quotation.js
@@ -71,6 +71,8 @@ frappe.ui.form.on("Quotation", {
 		frm.trigger("set_label");
 		frm.trigger("toggle_reqd_lead_customer");
 		frm.trigger("set_dynamic_field_label");
+		frm.set_value("party_name", "");
+		frm.set_value("customer_name", "");
 	},
 
 	set_label: function (frm) {
@@ -100,7 +102,7 @@ erpnext.selling.QuotationController = class QuotationController extends erpnext.
 		frappe.dynamic_link = {
 			doc: this.frm.doc,
 			fieldname: "party_name",
-			doctype: doc.quotation_to == "Customer" ? "Customer" : "Lead",
+			doctype: doc.quotation_to,
 		};
 
 		var me = this;
@@ -199,6 +201,7 @@ erpnext.selling.QuotationController = class QuotationController extends erpnext.
 			};
 		} else if (this.frm.doc.quotation_to == "Prospect") {
 			this.frm.set_df_property("party_name", "label", "Prospect");
+			this.frm.fields_dict.party_name.get_query = null;
 		}
 	}